One Zinc Smelter in South China Cuts Output for Maintenance, SMM Reports

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

SMM data showed that China's refined zinc output stood at 508,900 mt in August, down 1.22% on the month and 0.04% on the year. Output from January to August was 4.04 million mt, a year-on-year increase of 4.47%. Alloy output at domestic refined zinc smelters in SMM’s survey sample registered 75,500 mt in August, up 80 mt on the month.

SMM Evening Comments (Jan 23)

SMM Morning Comments (Jan 19)

SMM Evening Comments (Jan 17)

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SHFE 1711 zinc posted a 3-day winning streak as of September 22, up by a total of 4%, due mainly to three reasons.

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

China’s refined zinc output was 455,000 tonnes in July, down 1.66% on the month but up 1.62% on a yearly basis, SMM data showed.